From GlobeNewswire: 2024-05-15 08:45:00

Safe and Green Development Corporation (NASDAQ: SGD) reported Q1 financial results, highlighting a strategic property monetization and the sale of St. Mary’s site for $1.35M. The company acquired XENE Real Estate AI Software and secured financing for Norman Berry Expansion in Atlanta. CEO David Villarreal expressed confidence in the real estate industry. Revenues were $49,816 with a GAAP net loss of ($3,067,671) and Adjusted EBITDA of ($432,004) in Q1. CFO Nicolai Brune discussed the aim to reach a revenue milestone of $1M in Q2 and grow subscriber base to a minimum of 200 XENE users.

Safe and Green Development Corporation is a real estate development company focusing on innovative, green projects using prefabricated modules. Their subsidiary, Majestic World Holdings LLC, developed the XENE Home Platform using AI technology. CEO David Villarreal believes the company is positioned for success. The Company reported a GAAP net loss of ($3,067,671) and Adjusted EBITDA of ($432,004) in the first quarter of 2024. CFO Nicolai Brune aims to hit a revenue milestone of $1 million in the second quarter and grow XENE subscribers to a minimum of 200 users.



Read more at GlobeNewswire:: Safe and Green Development Corporation Reports First